CodeWord Issue 51 - September 2020

Published 21 September 2020

In this issue

Be careful with the Code if you hold shares through different entities

The Panel reminds market participants that they need to consider the position of associates when calculating the holding or control of voting rights (Voting Control) for the purposes of rules 6(1…

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New Class Exemption – Voting Agreements for Schemes of Arrangement

The Panel has granted the Takeovers Code (Voting Agreements for Schemes of Arrangement) Exemption Notice 2020 (the Class Exemption) in respect of voting agreements in relation to schemes of…

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Guidance Update

The Panel has recently updated a number of Guidance Notes.  Available on the Panel’s website are the updated versions, as well as compare versions showing all updates, of the following Guidance…

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COVID-19 Class Exemption

In March 2020, the Panel granted temporary class exemptions from the Code aimed at assisting Code companies in raising capital. These exemptions expire on 31 October 2020.

The Panel will be making…

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No more cheques

The Panel has updated its payment policy and is no longer accepting cheques as a method of payment for its fees (including application fees). Instead, all fees will be invoiced monthly or at the…

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CodeWord is our regular newsletter that keeps market practitioners updated on the Panel’s guidance and determinations, as well as amendments to takeovers law. It also gives an overview of consultations with the market and any Panel news.

Please note that the Panel does not update past issues of CodeWord. As such, the material may become out of date when amendments are made to the Code. Please refer to the Panel's guidance notes for up-to-date regulatory guidance.

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